Danaher Agrees to Sell Power Quality Business

Danaher, a District-based manufacturing conglomerate, announced this afternoon that it had reached an agreement to sell power quality business to Thomas & Betts Corporation for about $280 million in cash. Last year, the unit recorded revenue of about $130 million. Danaher, which reported total revenue of $9.6 billion in 2006, said it expected the deal to close later this quarter.

Separately, Danaher said it had completed its previously announced purchase of Glen Allen, Va.-based Chem Treat for $435 million.